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Avoiding The Pitfalls Of Spanish Property Investment

Apr 6, 2008
An excellent decision, and there are many thousands of people joining you on the adventure. The interest in buying Spanish property is every bit as popular in recent years, and as such, there are many people who have experienced the whole process from beginning to a successful end. Although the process is relatively straightforward, there are always going to be some issues, and many people will have tales to tell.

It would be a very sensible first step, therefore, to have a chat with some of those people who have made the journey, and use their experiences to help ensure you avoid the same problems they may have encountered.

Any cursory glance at the internet will show just how much information there is available today, and you may have already begun picking up leaflets and glossy brochures. Many people head straight out to the sun to begin browsing properties, but this is a mistake. Enjoying the carefree stroll between luxurious villas bathing in the sunshine is a sure way to ensure your heart is in charge, not your head.

One of the first things that you will need to consider are the reasons why you feel purchasing property in Spain is the right thing for you to do. For example, for some people it will be a retirement home. For others its might be a long term investment opportunity, perhaps letting the property out for most of the year. These circumstances are likely to make a significant difference to the type of property and the location that will be most suitable.

For example, if you are looking for a retirement home, you will need to consider basic requirements, such as stairs and accessibility. Also, you would be well advised to consider looking inland, as property is much cheaper than by the coast, and therefore you will get more for your money. However, if you are looking for an investment opportunity, then coastal locations will offer you the best return.

As you may have heard, or gathered already, Spanish law is complex, and works at its own pace! You are best advised to take advantage of a Spanish lawyer who will know the system well and will take care of your interests. They usually charge about 1% of the sale price for their services, but for the sake of peace of mind, this is a highly recommended investment.

Very often people view the properties during the summer, or tourist seasons, and although this can prove to be an enjoyable experience in itself, does not adequately provide you with a fair impression of the location. A better approach would be to try to visit the location at a variety of times of the year, especially if it is your intention to live there all year particularly.

This will not only provide you with a fairer impression of the location, but also give you a chance to settle your initial excitement and start looking at the properties with a more sensible approach. Talk to people in the area about what the location is like throughout the year, and consider aspects such as travel, accessibility and shopping.
About the Author
If you are thinking about purchasing a new house abroad, check out a great range of spanish property for sale together with useful tips and general information on the practical and legal aspects of purchasing spanish property
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